Monday, May 15, 2017

Monday -- FX & Commodity Ripfest, Xi's Rebuff, Premium Coolers

Chinese President Xi Jinping had a small problem when presenting his "One Belt, One Road" globalisation initiative: not even the EU wanted to sign on.

France, Germany, Estonia, Greece, Portugal and Britain would not sign one of the summit documents on trade. And India bailed as well.

Nationalism is replacing collectivism as mood shifts from the warm and fuzzy effects of peak positive mood to the negative mood trend of the coming Grand Supercycle.

Mood:
This weekend I stopped into West Marine in San Juan. The latest category to become completely unhinged from reality is the premium cooler category.

This cooler doesn't even fit a case of beer but costs $200.

This one fits even less and costs $285.

But the prize goes to this beast. $899 for a fashion-inspired "luxury" cooler that could only belong at the Fyre Festival.

As tweeted, we are witnessing extreme psychology. Take note.

Take note also of an excellent interview with Lacy Hunt for a masterclass in credit and debt. Most illuminating, even though I strongly disagree with the premise that the economy is too over indebted for rates to rise and stay up.

"Smart, clear, level headed thinking . . . It calms me to read an unbiased assessment of this market by the numbers."

"Great job and key insight here! Thx!"

"Still check your blog just about every day, great reading. Love It!!!!!!"

"You were born for writing and trading. I love your blog."

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